A must read for the impatient.
Last Friday afternoon I was talking to one of my advertising customers who owns a business, a real nice guy. I asked him if he buys stocks, "yes" and he pulled out his phone and pulled up one of his stocks he recently sold, it was over $160, down from over $250 (he didn't own much). I told him about some of my horror stories in past penny stocks. After another story about a double R/S stock that I ended up with one share left, lol, he said, smiling, let me tell you a story.
He and his wife were traveling years ago and she went to a Panera Bread for lunch. She told her husband they need to buy the stock. So when they got home he did. He held the stock thru ups and downs, but no real gains. He and the market were waiting for Panera to sell off another division and put the proceeds into the Panera Bread division. Now, you have read this long, bear with me. He was "discouraged", "tired of waiting" and did not think it would ever get done. He then looked me right in the eye and said "I sold it all and the very, yes the very next day there was an announcement that Panera had sold off the other division for millions and was putting the proceeds into the Panera Bread division". The stock rocketed and was a big log term winner! A huge lost opportunity. He had a smile as he told the story as he has gotten over it but he also didn't have enough stock to let him retire either.
I can only imagine the remorse the impatient sellers will have when we finally get our news. Don't be one of those impatient investors. If you can't stand the wait, maybe you should move up a couple of stock exchanges to play. Just my humble opinion.
Got another story from my past securities career about one my clients that missed the ORIGINAL $25,000 investment window to get into Berkshire Hathaway stock. He missed the deadline window by 15 minutes and Warren sold it to someone else.
I know how my story is going to end because I know what I own.
Good luck to all.
